Send me email updates about messages I've received
on the site and the latest news from The CafeMom Team.By signing up, you certify that
you are female and accept the Terms of Service and have read the
Privacy Policy.

Did I hear correctly or not? Obama tax plan question

When I listened to Obama closely I realized that he doesn't say he will cut taxes for 95% of Americans. He said he will "not raise taxes" for 95% of Americans. So what does this mean? Who is getting tax cuts? Are taxes actually going to be cut or not?
And a previous question stated, 40% of Americans do not pay taxes, so what happens to these people? Are they going to receive money from the government or are they going to continue not paying taxes?

He is planning on raising taxes on those who make more than $250K per year. But even then, it's not much of an increase. Most of the new tax revenue will come from large corporations.

The comparison for average people was on The Early Show this morning. It's very enlightening. I see why those in the higher income levels want McCain in office. They are the ones that will benefit the most. http://www.cbsnews.com/video/watch/?id=4527700n

What he is wanting to do is take more money from the wealthy (the 5%) and give middle class more breaks. Its F*ed up to me. A lot of people are rich because they worked hard to be. To have MORE money taken from them is just not right. Did you know 40% of tax dollars already come from the wealthy. I think they contribute enough. I am not rich by any means but a good friend of mine is and she worked really hard to get every dime. She deserves it.

Answer by
Anonymous
at 5:10 PM on Oct. 17, 2008

he dosen't have the power to do either, he can propose what he wishes but it will have to get through the congress. thats what no one seems to get the president can't do anything with out congress support. it matters less who is in the whitehouse and more about our congressmen and senators.

he dosen't have the power to do either, he can propose what he wishes but it will have to get through the congress. thats what no one seems to get the president can't do anything with out congress support. it matters less who is in the whitehouse and more about our congressmen and senators.

Amen Sister! Why aren't people taking this approach with Bush? We've blamed everything on the republican party and the Bush Administration like you said he isn't the only one pulling strings here, he can only do so much and it is more about the congressmen and senators I just wish people would put that together before they decide who they want in office.

Sammygrl77, I appreciate your answer, and I understand that only those making over 250,000 will see a tax increase, but what about those below. Who is getting a decrease vs whose taxes will stay the same? Where are the cut offs for that?

Answer by
Anonymous
at 5:21 PM on Oct. 17, 2008

Figaro, I checked the sites, thank you for providing them, but none of them state (from what I could see) where the cutoff is for who is getting tax breaks versus who is just not getting an increase.

Answer by
Anonymous
at 5:52 PM on Oct. 17, 2008

It seemed to me like there isn't a cut-off. Those on government assistance don't pay taxes and will have no change. He says 95% of "taxpayers." Those who don't pay taxes don't fall into that category and are not counted in the figures.

And yes, his tax plan would have to be approved. Since there will be a democratic majority, Obama will have an easier time getting things to pass than McCain will.